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Investors in Thai Beverage (SGX:Y92) Have Unfortunately Lost 21% Over the Last Five Years
Investors in Thai Beverage (SGX:Y92) Have Unfortunately Lost 21% Over the Last Five Years
For many, the main point of investing is to generate higher returns than the overall market. But the main game is to find enough winners to more than offset the losers At this point some shareholders may be questioning their investment in Thai Beverage Public Company Limited (SGX:Y92), since the last five years saw the share price fall 31%.
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
View our latest analysis for Thai Beverage
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
During the unfortunate half decade during which the share price slipped, Thai Beverage actually saw its earnings per share (EPS) improve by 1.5% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS.
Based on these numbers, we'd venture that the market may have been over-optimistic about forecast growth, half a decade ago. Looking to other metrics might better explain the share price change.
Revenue is actually up 5.6% over the time period. So it seems one might have to take closer look at the fundamentals to understand why the share price languishes. After all, there may be an opportunity.
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
SGX:Y92 Earnings and Revenue Growth September 27th 2022Thai Beverage is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out this free report showing consensus forecasts
What About Dividends?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Thai Beverage's TSR for the last 5 years was -21%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
A Different Perspective
Investors in Thai Beverage had a tough year, with a total loss of 2.4% (including dividends), against a market gain of about 6.0%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. However, the loss over the last year isn't as bad as the 4% per annum loss investors have suffered over the last half decade. We would want clear information suggesting the company will grow, before taking the view that the share price will stabilize. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should learn about the 2 warning signs we've spotted with Thai Beverage (including 1 which makes us a bit uncomfortable) .
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on SG exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对于许多人来说,投资的要点是产生比整个市场更高的回报。但最主要的游戏是找到足够的赢家来抵消输家。此时,一些股东可能会质疑他们的投资 泰国饮料公开有限公司 新加坡证券交易所股票代码:Y92),自过去五年以来,股价下跌了31%。
值得评估的是,该公司的经济状况是否与这些令人难以置信的股东回报步调一致,或者两者之间是否存在一些差距。所以我们就这么做吧。
查看我们对泰国饮料的最新分析
用本杰明·格雷厄姆的话来说:从短期来看,市场是一台投票机器,但从长远来看,它是一台称重机。评估公司情绪变化的一种有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
在股价下跌的不幸五年中,泰国饮料的每股收益(EPS)实际上每年增长1.5%。鉴于股价的反应,人们可能会怀疑每股收益并不能很好地指导该期间的业务表现(可能是由于一次性的亏损或收益)。或者,此前市场可能非常乐观,因此尽管每股收益有所改善,但该股还是令人失望。
基于这些数字,我们敢说,五年前,市场可能对预期的增长过于乐观。看看其他指标可能会更好地解释股价的变化。
在此期间,收入实际上增长了5.6%。因此,人们似乎必须仔细研究基本面才能理解股价下跌的原因。毕竟,可能有机会。
您可以在下图中看到收入和收入随时间推移而发生的变化(点击图表查看确切值)。
新加坡证券交易所:Y92 年收益和收入增长 2022 年 9 月 27 日泰国饮料为投资者所熟知,许多聪明的分析师试图预测未来的利润水平。所以我们建议你看看这个 免费的 显示共识预测的报告
分红呢?
重要的是要考虑任何给定股票的股东总回报以及股价回报。虽然股价回报仅反映股价的变化,但股东总回报率包括股息的价值(假设是再投资)以及任何贴现融资或分拆的收益。因此,对于支付丰厚股息的公司来说,股东总回报率通常比股价回报率高得多。碰巧的是,泰国饮料公司过去5年的股东总回报率为-21%,超过了前面提到的股价回报率。这在很大程度上是其股息支付的结果!
不同的视角
泰国饮料的投资者经历了艰难的一年,总亏损2.4%(包括股息),而市场涨幅约为6.0%。即使是好股票的股价有时也会下跌,但我们希望在过于感兴趣之前,看到企业的基本面指标有所改善。但是,去年的亏损并不像投资者在过去五年中遭受的每年4%的亏损那么严重。在认为股价将稳定之前,我们希望获得明确的信息,表明该公司将实现增长。我发现从长远来看,将股价作为业务表现的代表非常有趣。但是,为了真正获得洞察力,我们还需要考虑其他信息。为此,你应该了解 2 个警告标志 我们发现了泰式饮料(包括一种让我们有点不舒服)。
对于那些喜欢寻找的人 获胜的投资 这个 免费的 最近进行内幕收购的成长型公司名单可能只是门票。
请注意,本文引用的市场回报反映了目前在新加坡交易所交易的股票的市场加权平均回报。
对这篇文章有反馈吗?担心内容吗? 取得联系 直接和我们在一起。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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